USD/JPY 89.08 - 13 October 2009

USD/JPY Open 89.70 High 90.44 Low 89.35 Close 89.83

Dollar/Yen made a significant bullish movement on Monday. On the 3 hour chart the 90.00 resistance was convincingly broken up, indicating further potential upward correction with possible test of 90.90. Break above this level may lead to strengthening of the US Dollar against the Yen with objectives towards 91.50, followed by 92.40. The nearest support is yesterday's bottom at 89.35. Break bellow that zone may weaken the upwards correctional scenario, and renew the bearish trend. The CCI indicator is about to cross down the 100 line on the 1 hour chart, suggesting potential descending pressure.

Technical resistance levels: 90.45 91.50 92.40

Technical support levels: 89.35 88.15 87.05

Trading range: 90.20 - 89.55

Trend: Downward

Sell at 90.06 SL 90.36 TP 89.66

Already made +8 pips profit on USD/JPY today from the following signal:

8:02 GMT+1 Buy USD/JPY at 90.12 SL 89.86 TP 90.62 exited at 8:06 GMT.

Total today +88, yesterday +172, as shown at www.zifx.com/performance.php

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